DUBAI, UAE, Jan. 29, 2026 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, announced that it has become the No.1 centralized exchange for spot trading of Tether Gold (XAUT), commanding approximately 15.75% of total XAUT trading volume among centralized venues, according to CoinGecko data.
The surge in XAUT activity coincides with the token hitting new all-time highs around $5,500, closely tracking spot gold's breakout above $5,000. Gold prices have climbed on rising macroeconomic uncertainty, persistent inflation risks, geopolitical tensions, and continued central bank accumulation of gold - factors that have reinforced gold's role as a global hedge and store of value.
"Spot gold rose over 64% in 2025 - its biggest annual gain since 1979," said Han Tan, Chief Market Analyst at Bybit Learn. "As long as the macro backdrop remains conducive, and central banks and ETF investors sustain their purchases, gold should have little trouble posting fresh all-time highs in 2026."
As interest in gold-backed tokens accelerates, Bybit has become the primary liquidity and price discovery venue for XAUT, with trading activity remaining strong across weekends and periods when traditional commodities markets are closed. The exchange's liquidity depth has made it a central hub for traders seeking to gain or adjust gold exposure in real time, regardless of traditional market hours.
The concentration of XAUT trading on Bybit reflects a broader shift in how market participants are approaching the current bull cycle. More traders are turning to tokenized real-world assets (RWAs) such as gold-backed tokens to balance volatility in digital asset portfolios, while retaining the speed, accessibility, and global reach of crypto markets.
"Gold's resurgence is being mirrored on-chain through XAUT, and traders are choosing Bybit as their primary venue to trade," said Emily Bao, Head of Spot at Bybit. "Our focus has been on building the deepest liquidity and most reliable market access, enabling efficient execution as tokenized gold becomes a core macro asset in crypto markets."
Bybit's comprehensive product suite enables traders to capitalize on XAUT's momentum through multiple strategies. The platform offers spot trading, margin trading with up to 10x leverage, and derivatives trading with up to 50x leverage. Traders can deposit XAUT across multiple blockchains including Solana, Ethereum, Mantle, Monad, and TON. The exchange also supports automated strategies such as DCA/recurring buys and Grid Bot, alongside onchain tools for alpha trading and yield farming, giving users flexible options to participate in the gold rally.
As the tokenized gold market continues to expand, Bybit remains committed to delivering strong liquidity, 24/7 trading access, and institutional-grade market infrastructure, reinforcing its position as the leading centralized exchange for XAUT trading during the current gold-driven bull run.
Bybit / CryptoArk / IMakeIt
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 80 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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